Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Huntington Ingalls Industries / Equity Bottom-Up

<ul><li>Huntington Ingalls Industries (HII) reported second quarter 2026 revenues of $3.4 billion, representing a 10.9% increase year-over-year.</li><li>The company’s shipbuilding segment led growth with revenues of $2.7 billion, a 16% increase from the prior year, marking the fourth consecutive quarter of double-digit growth.</li><li>Driven by momentum in ship deliveries and contract awards, management raised its 2026 shipbuilding revenue guidance to a range of $10.2 billion to $10.4 billion and increased shipbuilding margin expectations to between 6% and 6.5%.</li></ul>

Huntington Ingalls Industries (HII) reported second quarter 2026 revenues of $3.4 billion, representing a 10.9% increase year-over-year.The company’s shipbuilding segment led growth with revenues of $2.7 billion, a 16% increase from the prior year, marking the fourth consecutive quarter of double-digit growth.Driven by momentum in ship deliveries and contract awards, management raised its 2026 shipbuilding revenue guidance to a range of $10.2 billion to $10.4 billion and increased shipbuilding margin expectations to between 6% and 6.5%.

Huntington Ingalls Industries' $10.4 Billion Shipbuilding Push: Can The Momentum Hold?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>As the largest military shipbuilder in the U.S., HII holds a quasi-monopolistic position, being the sole builder of nuclear-powered aircraft carriers and one of only two for nuclear-powered submarines, ensuring a stable, long-term demand pipeline from the U.S. Navy.</li>
  <li>A robust backlog of $57.3 billion as of June 2026 provides exceptional revenue visibility for the next several years, underpinned by long-term U.S. Navy fleet expansion and modernization plans.</li>
  <li>While the core shipbuilding segments drive revenue, the company is strategically diversifying through its Mission Technologies division, focusing on higher-margin, less capital-intensive areas like unmanned systems, C5ISR, and cyber, positioning HII for future all-domain defense needs.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  As the largest military shipbuilder in the U.S., HII holds a quasi-monopolistic position, being the sole builder of nuclear-powered aircraft carriers and one of only two for nuclear-powered submarines, ensuring a stable, long-term demand pipeline from the U.S. Navy.
  A robust backlog of $57.3 billion as of June 2026 provides exceptional revenue visibility for the next several years, underpinned by long-term U.S. Navy fleet expansion and modernization plans.
  While the core shipbuilding segments drive revenue, the company is strategically diversifying through its Mission Technologies division, focusing on higher-margin, less capital-intensive areas like unmanned systems, C5ISR, and cyber, positioning HII for future all-domain defense needs.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Huntington Ingalls Industries (HII US) - Aug 2026

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hanwha-ocean-co-ltd" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Hanwha Ocean (042660 KS)</a> is now negotiating deal terms with <a href="https://www.smartkarma.com/entities/austal-ltd" target="_blank" data-smartkarma-citation="entities:14420:1" rel="noopener">Austal Ltd (ASB AU)</a> after substantially completing diligence, while Wildcat’s competing proposal remains at the non-binding dialogue stage.</li>
<li>Tax structuring advice and extended diligence signal a late-stage process, making a binding Hanwha offer materially more likely; price remains the key open question.</li>
<li>My revised SoTP values Austal at A$4.84–$6.97 per share, 17–69% above A$4.13. The gap reflects AUSA deal-completion risk plus a standalone Australasia scale discount — not fundamentals alone.</li>
</ul>



Hanwha Ocean (042660 KS) is now negotiating deal terms with Austal Ltd (ASB AU) after substantially completing diligence, while Wildcat’s competing proposal remains at the non-binding dialogue stage.
Tax structuring advice and extended diligence signal a late-stage process, making a binding Hanwha offer materially more likely; price remains the key open question.
My revised SoTP values Austal at A$4.84–$6.97 per share, 17–69% above A$4.13. The gap reflects AUSA deal-completion risk plus a standalone Australasia scale discount — not fundamentals alone.


Austal (ASB AU): Hanwha Pulls Ahead of Wildcat in the Race for Austal USA

<ul><li>Huntington Ingalls Industries reported first quarter 2026 revenue of approximately $3.1 billion, reflecting a 13.4% increase year-over-year, primarily driven by strong performance in its shipbuilding divisions.</li><li>Shipbuilding revenue rose 17.6%, with Ingalls Shipbuilding increasing 13.8% due to higher volumes in surface combatants and Newport News Shipbuilding increasing 19.3%, supported by aircraft carriers, submarines, and naval nuclear support services.</li><li>Mission Technologies revenue grew modestly by 1.8%, bolstered by All-Domain operations and autonomous systems growth, although partially offset by lower volumes in warfare systems.</li></ul>

Huntington Ingalls Industries reported first quarter 2026 revenue of approximately $3.1 billion, reflecting a 13.4% increase year-over-year, primarily driven by strong performance in its shipbuilding divisions.Shipbuilding revenue rose 17.6%, with Ingalls Shipbuilding increasing 13.8% due to higher volumes in surface combatants and Newport News Shipbuilding increasing 19.3%, supported by aircraft carriers, submarines, and naval nuclear support services.Mission Technologies revenue grew modestly by 1.8%, bolstered by All-Domain operations and autonomous systems growth, although partially offset by lower volumes in warfare systems.

Huntington Ingalls: 17.6% Shipbuilding Growth Masks Cost And Schedule Pressure!

<ul><li>Huntington Ingalls Industries (HII) reported notable financial outcomes in its fourth quarter and full-year 2025 performance.</li><li>Revenues reached $12.5 billion, reflecting an 8.2% increase year-over-year, with earnings per share (EPS) of $15.39.</li><li>Noteworthy is HII securing $16.9 billion in total awards, while all three of its divisions attained record revenue levels.</li></ul>

Huntington Ingalls Industries (HII) reported notable financial outcomes in its fourth quarter and full-year 2025 performance.Revenues reached $12.5 billion, reflecting an 8.2% increase year-over-year, with earnings per share (EPS) of $15.39.Noteworthy is HII securing $16.9 billion in total awards, while all three of its divisions attained record revenue levels.

Huntington Ingalls (HII)’s Shipyard Execution Is Under the Microscope — Is a 2026 Ramp-Up Closer Than Investors Think?

United States

Huntington Ingalls Industries, Inc. (HII) designs, builds, and maintains nuclear and non-nuclear ships for the United States Navy and Coast Guard. The Company also provides after-market services for military ships worldwide. HII consists of two primary business divisions, Newport News Shipbuilding and Ingalls Shipbuilding.

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Huntington Ingalls Industries (HII US)

Huntington Ingalls Industries' $10.4 Billion Shipbuilding Push: Can The Momentum Hold?

Huntington Ingalls Industries (HII) reported second quarter 2026 revenues of $3.4 billion, representing a 10.9% increase year-over-year. The...

Baptista Research

Primer: Huntington Ingalls Industries (HII US) - Aug 2026

As the largest military shipbuilder in the U.S., HII holds a quasi-monopolistic position, being the sole builder of nuclear-powered aircraft...

αSK Primers

Austal (ASB AU): Hanwha Pulls Ahead of Wildcat in the Race for Austal USA

Hanwha is negotiating terms and leads Wildcat for Austal USA; a binding offer looks likely. SoTP of A$4.84–6.97/sh implies 17–69% upside to A$4.13.

Arun George

Huntington Ingalls: 17.6% Shipbuilding Growth Masks Cost And Schedule Pressure!

Huntington Ingalls Industries reported first quarter 2026 revenue of approximately $3.1 billion, reflecting a 13.4% increase year-over-year,...

Baptista Research

Huntington Ingalls (HII)’s Shipyard Execution Is Under the Microscope — Is a 2026 Ramp-Up Closer Than Investors Think?

Huntington Ingalls Industries (HII) reported notable financial outcomes in its fourth quarter and full-year 2025 performance. Revenues reached...

Baptista Research

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